It's zinc. The S&L 'Classic set up' that we see here was the first of many zinc PAB's that S&L produced and is considered a high quality example of the type, although it's not a rare badge as they were produced in huge quantities and as a result are common on the collector market. They tend to hold their finish well and are a good choice for anyone wanting a 'representative' PAB for their collection.

Regards, Ned.

'I do not think we can hope for any better thing now.
We shall stick it out to the end, but we are getting weaker of course, and the end cannot be far.
It seems a pity, but I do not think I can write more. R. SCOTT.
Last Entry - For God's sake look after our people.'